Exam 4: Evaluating the Competition in Retailing

The retail life cycle suggests that firms move from the _____ stage to the _____ stage to the _____ to _____ stage.

According to most retail analysts,as a result of several key forces at work today,which of the following forms of nonstore retailing will experience significant growth over the next decade while the other forms will remain steady or decline?

Retailers have found private label branding strategies so successful that they are using private label brands for entire departments.

Dawn needed to drop off a few garments at the dry cleaners.On her way to work,she stopped at the local SuperCenter to pick up pastries for her staff at work.While at the SuperCenter,Dawn noticed that they now offer dry cleaning services.So,instead of going to the dry cleaner's on the corner,Dawn dropped off her garments at the SuperCenter.By offering dry cleaning,SuperCenter successfully engaged in what form of competition?

The major advantage held by off-price retailers over discounters is that they provide consumers with a consistent selection of top brands at reduced prices,whereas discounters' selections are more volatile.

The _____ theory suggests that all firms seek superior financial performance in an ever-changing environment,and as a result,firms are forced to change the elements of their retail mix to match changing consumer preferences.

_____ sell products at a discount but do not carry certain brands on a continuous basis and carry those brands they can buy from manufacturers at closeout or deep one-time discount prices.

The distinction between monopolistic competition and oligopolistic competition is that in monopolistic competition there are fewer sellers than in oligopolistic competition.

While a chocolate-covered donut would taste great right now,the second,third,or tenth one,purchased and consumed today,would be less desirable.This is an example of declining marginal utility.

The first stage of the retail life cycle is:

Retail experts would agree that a certain marketplace is _____ if the number of stores in relation to the number of households is so large that to engage in retailing is unprofitable or marginally profitable.

Retailers today can achieve an above-average growth rate by maintaining their market share,since the country's population is growing so fast.

The retail life cycle has five stages: idea generation,introduction,growth,maturity,and death.

The wheel of retailing theory is an attempt to explain how retailers have reacted to the demands of consumers in this "wheeling and dealing" competitive economic system.

Target has recently introduced Archer Farms Market as a separate department in its stores.This is an example of:

A retailer who has already done a great job of developing a strategy:

The rate of change in retailing around the world appears to be directly related to the stage and speed of economic development in the countries concerned.

Local retailers can expect to compete with large discount stores such as Walmart and Target.

This retail format combines a discount store and grocery store to carry 80,000 to 100,000 products in order to offer one-stop shopping.

The _____ is the point where total revenues equal total expanses.